Leading US multi-state, vertically integrated cannabis operator Ayr Wellness recently announced that it has entered into an interim Management Services Agreement (MSA) with Tahoe Hydroponics Company. Tahoe Hydro is recognized as one of Nevada’s leading growers of high-quality cannabis flowers.
The agreement also included NV Green, a company whose production of concentrates has reached leading positions in recent years. All of this has been in accordance with the previously announced Definitive Agreement signed in the middle of last year.
A few weeks ago, the Nevada Cannabis Control Board (CCB) approved the joint venture between Ayr’s subsidiary under the MSA, NV Green and Tahoe Hydro. This joint venture includes provisions for exclusive access to Lost in Translation LLC’s strong and innovative bank of existing and future cannabis genetics, as well as exclusive access to the LIT brand, one of the Silver State’s best-selling flower brands.
“Tahoe Hydro provides us with access to some of the highest-quality cannabis on the market, and our goal is to use this transaction to infuse our entire organization with some of the world’s premier cultivation talent and genetics,” comments Jonathan Sandelman, founder, chairman and CEO of Ayr Wellness on the recent move. “We have an immense respect for the art and science that is growing high-quality flower and believe that access to Tahoe Hydro’s talented team and evolving library of genetics will be important in expanding our ability to offer unique, excellent flower to our customers at scale throughout our organization.”
Since the relationship under the MSA has been approved and successfully completed. Ayr will now do everything necessary to leverage the cannabis brands through LIT and Tahoe. Both are recognized and respected throughout Nevada, which paves the way for Ayr to continue to have a large presence in this state. The company also made it clear that it intends to utilize the established and strong presence developed by LIT and Tahoe Hydro to increase its wholesale penetration throughout the state.